elco Crown Entertainment recently announced that its CEO Lawrence Ho will buy the controlling stake in Arnhold Holdings Limited in a deal estimated to be worth us$ 26.18 million. Ho will buy a 74% stake, and a general offer is expected to be made for the remaining shares. Ho is now required to make an unqualified general cash offer for all the shares not already owned by him. The offer is required to be at us$ 1.502 per share. This price is at 52% discount to the stock’s last trading price of us$ 31.2. The company’s stock trading was suspended on December 16.
Arnhold Holdings is looking to sell its bathrooms trading and retailing business to its director Michael John Green in a deal expected to be worth us$ 19.1 million. The company is also planning to issue a special dividend, which will exceed us$ 22.7 million.
Melco Crown Entertainment reported its total current assets at us$ 774.720 million for the year ending December 31, 2009. Its total assets were worth us$ 4,900,369 million for the same time period. Melco Crown had valued its total liabilities at us$ 2391.325 million. The company had reported its revenue at us$ 1332.873 million and its gross profit for the year at us$ 175.357 million. Melco Crown Entertainment’s net income for the year stood at us$ (308.461) million.
Melco Crown Entertainment stock traded in the range of us$ 3.30 and us$ 7.13 during the last 52 weeks. The company’s EPS stands at (us$ 0.22) and its market cap is us$ 3.58 billion.